Directors shall be elected by the members. Candidates for elected director shall be nominated by a nominating committee consisting of the chair of the Board of Directors, the President of the KSU Research Foundation, a person from the private sector designated by the President of Kansas State University, a member of the Council of Deans of Kansas State University designated by the Provost, and a person designated by the President of Faculty Senate at Kansas State University.
The Board shall elect annually a Chair and a Vice-Chair from its members, and a Secretary and a Treasurer, or a Secretary and Treasurer. In addition, the Board shall elect annually a President, who shall be an ex officio member. At the discretion of the Board, the offices of President, Secretary, and Treasurer may be filled by one person.
The term of an elected director shall be three (3) years. No elected director shall serve more than two consecutive terms. This provision shall apply to elected directors serving at the time of its adoption after they have completed their then existing terms.
An Executive Committee composed of the officers, plus at least two additional members, which the Board shall elect annually, shall be entitled to exercise all the powers of the Board of Directors when the Board is not in session.
A Finance Committee composed of the Treasurer and the President plus at least three additional members, the majority of whom are members of the Board, will be elected at the annual meeting. The Committee shall be authorized to make decisions regarding all financial accounts and instruments of the organization.
The Board shall hold an annual meeting in the City of Manhattan, Kansas on a date set by the President within five months after the close of the fiscal year. Special meetings of the Board may be held on the call of any officer provided notice has been mailed to each director stating the time and place of the meeting at least three days prior. A majority of the directors shall constitute a quorum and a majority of the members present at a duly authorized meeting in which a quorum is in attendance shall have power to transact any business which the Board of Directors may lawfully transact.